Key points:
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Bitcoin’s failure to rise above $118,000 may have attracted profit booking by short-term traders, resulting in a drop towards $107,000.
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Many major altcoins turned back from their overhead resistance levels, signaling that bears remain selling in rallies.
Bitcoin (BTC) The Bulls are trying to keep the price above $ 111,000, but the Bears are constantly exerting pressure. Glassnode wrote in its latest weekly market impulse report that BTC’s The recent recovery has not been supported by increased participationSigned a “potential merger phase.”
A slightly more cautious view came from Crypto Market Intelligence Company 10X Research, which stated that the current BTC market cycle may not extend beyond the traditional four-year cycle, as BTC has become too expensive for long-term retail purchases. The The company is expected to top $125,000 Based on their research methodology.
BTC remains stuck within a large range, but a minor positive in the Bulls’ favor is that investors continue to buy BTC-exchanged funds. According to Farside Investor’ DataBTC ETFS recorded net inflows of $462.6 million over the past four days.
What are the critical support and resistance levels to watch in BTC and the major altcoins? Let’s check the charts of the top 10 cryptocurrencies to find out.
Bitcoin price prediction
BTC’s failure to stay above the 50-day simple moving average ($114,278) attracted sellers, who pulled the price below the 20-day exponential moving average ($112,347).
If the price closes below the 20-day EMA, the Bears will try to yank the BTC/USDT pair to the critical support at $107,000. Buyers are expected to defend the $107,000 level with all their might, as a break below would complete a double pattern. Bitcoin price may fall to $100,000.
The $118,000 level is a key resistance to watch on the upside. A break and close above could push the pair to an all-time high of $126,199.
Ether price prediction
Ether (Eth) bounced back from the 50-day SMA ($4,220) on Monday, indicating that the bears are active at higher levels.
Sellers are trying to pull the price to the support line of the descending triangle pattern, which is a critical level to watch. A break and near the bottom of the support line could sink the price of ether to $3,350.
Bulls need to push the price above the 50-day SMA to signal strength. The ETH/USDT pair may climb to the resistance line, where sellers are likely to pose a strong challenge. Buyers need to overcome the barrier of the resistance line to signal the start of the next leg of the upward move.
BNB price prediction
BNB (BNB) bounced back from the 38.2% Fibonacci retracement level of $1,156 on Monday, but a minor positive Bulls defended the 50-day SMA ($1,076) on Tuesday.
The flat 20-day EMA ($1,119) and the RSI near the midpoint do not give a clear advantage to either the bulls or the bears. If the price declines and breaks below the 50-day SMA, it signals the start of a deeper correction at $1,021 and more recently at $932. Such a move suggests that the BNB/USDT pair may rise in the near term.
Conversely, a break and close above $1,156 indicates strong buying at lower levels. BNB price may then advance to the 61.8% retracement level of $1,239.
XRP price prediction
XRP (XRP) has been trading between the breakdown level of $2.69 and the 20-day EMA ($2.56) in recent days.
Tight range trading is likely to be followed by a range widening. If the price declines and breaks below the 20-day EMA, it suggests that the Bears have overpowered the bulls. XRP price may drop to $2.20.
Conversely, a break and close above $2.69 could push the XRP/USDT pair to the downtrend line. Sellers are expected to actively defend the downtrend line, as a break above it opens the doors for a rally to $3.20 and then $3.38.
Solana price prediction
Consumers push Solana (Sol) above the 20-day EMA ($196) on Sunday but struggling to sustain higher levels.
The flat 20-day EMA and the RSI near the midpoint signal a balance between supply and demand. If the price closes above the 20-day EMA, the SOL/USDT pair may rise above the resistance line. Buyers need to push the price above the resistance line to gain strength.
Alternatively, if the price declines and breaks below $190, it suggests that the bears are in control. The pair may drop to $177 and eventually the channel support line.
Dogecoin price prediction
Dogecoin (Doge) bounced back from $0.21 overhead resistance on Monday, signaling that the bears are aggressively defending the level.
Bears will try to build on their advantage by pulling the price of Dogecoin below the $0.17 level. If they manage that, the DOGE/USDT pair could drop to the critical support at $0.14. Buyers are expected to defend the $0.14 level with all their might, as a break below will clear the way for a retest of the $0.10 level.
The first sign of strength will be near the top of $0.21. If that happens, the pair could rise to the 50-day SMA ($0.23) and eventually to $0.27.
Cardano price prediction
Cardano (There is) bounced back from the 20-day EMA ($0.68) on Monday, indicating that sentiment remains negative.
Bears will try to sink the cardano price below the $0.59 support. If they can pull this off, the ADA/USDT pair could fall towards the important support at $0.50. Buyers are expected to defend the $0.50 level.
On the upside, a break and close above the 20-day EMA signals that the Bulls are attempting a comeback. The pair may rally to the breakdown level of $0.75 and follow the downtrend line.
Related: Bitcoin slips to $113k as S&P 500 hits new all-time high on Fed Rate Move
Hyperliquid price prediction
Buyers remain hyperliquid (hype) above the 50-day SMA ($45.95), indicating strength.
Buyers will try to strengthen their position by pushing the hyperliquid price above the $51.50 overhead resistance. If they manage to do that, the Hype/USDT pair could retest the all-time high at $59.41.
Sellers likely have other plans. They will try to defend the $51.50 level and pull the price below the 20-day EMA ($42.64). If they succeed, the pair could fall towards the important support at $35.50.
Chainlink price prediction
chain link (Link) turned back from the 20-day EMA ($18.52), indicating that bears are selling on rallies.
Bears will try to pull the chainlink price to $ 16.71 and then to the strong support at $ 15.43, where buyers are expected to enter.
Especially, if the price turns from the current level and breaks above the 20-day EMA, it suggests that the selling pressure is reducing. The link/USDT pair may rally to the resistance line. Buyers need to push and sustain the price above the resistance line to signal that the correction may be over.
Bitcoin cash price prediction
Bitcoin Cash (BCH) has reached the resistance line of the falling wedge pattern, where the bears pose a strong challenge.
The angry 20-day EMA ($527) and the RSI in positive territory indicate the path of least resistance is to the upside. A close above the resistance line opens the doors for a rally to $615 and then $651.
Sellers need to quickly pull the price of bitcoin cash below the 20-day EMA to regain control. The BCH/USDT pair may fall towards the strong support at $450.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should do their own research when making decisions.
